Public Storage — Director's Dealing 2024

Feb 7, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2024-02-05

Reporting Person: Vitan Nathaniel A. (Chief Legal Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-02-05	Stock Option (Right to Buy)	$222.66	A	77456	Acquired	2031-02-16	Common Shares (77456)	Direct

Footnotes

F1: Reflects an award of performance-based stock options originally granted February 16, 2021, subject to a three year (2021-2023) performance period. As originally granted, this award was for 50,000 options (at target) with an exercise price of $229.95 per share. Pursuant to anti-dilution provisions of the Company's 2016 Equity and Performance-Based Incentive Compensation Plan, these options were adjusted to reflect the special dividend declared by the Company on July 22, 2022. On February 5, 2024, following completion of the performance period, the Compensation and Human Capital Committee certified performance at 150% of target, as reflected here. Three-fifths of these options will vest on February 16, 2024, with the remaining vesting ratably over the next two years.